Credit's Not Buying It

We discussed earlier how various non-US-equity asset classes were differing in their opinions on the likely events going forward. Even more short-termist, it seemed a large number of people really didn't want European financials exposure. Well, this afternoon has seen volumes dry up in ES and limp higher as IG and HY credit spreads have moved wider and wider quite comfortably. While we can never be sure, it seems credit professionals are not so comfortable being long and unhedged into the weekend.

Doing heroin, injecting you ass fat into your face, and adopting 19 third world babies so you can go around being a sanctimonious frigid bitch are what passes for refined nowadays? Gimme Jen--she's gooder people.

"know your approach speeds. Nothing else really matters." Well, I'm glad you're not still flying. I think. "They may have crossed the controls" There must be a less probable statement that could be made, but off hand I can't think of what it could be. The aircraft is described as suddenly "The left wing went down, and it spiralled into the ground" Tell us, oh master of aviation; what is the one hundred percent certain symptom of a low speed low altitude STALL in an American Propellor tractor aircraft? "The left wing will drop". You're beginning to annoy me.

Equity can water down stocks with 6 billion shares all it wants. It still has to be able to sell it to get paid. Sure it's ponzi financing but if people aren't buying then it doesn't work. Which is why stock pumpers gotta pump so desperately.

Get robot trader out here he'll keep em out of the credit markets when they need money for 2 billion 4 billion 10 billion a year losses that they book as gains.

Surely the action in AMZN, Nasdaq, and retail (esp luxury retail) qualify as some kind of blow-off. AMZN, a $100b company that makes razor thin margins on $50b or so in sales looking forward, went up by 15% this week and today went up non-stop with barely a downtick on no news at all. Short covering or not, where does this all end? And how come it wasn't hit harder when all the shorts were established? The short covering logic doesn't compute, this is just another enormous bubble, not tech so much this time as consumer. How on earth can a triple-digit PE bet on the US consumer be expected to pay off at this point in history? Incredible stuff.

If you want to see the nature of institutionalized criminal syndicate Wall Street bankers and their computers in action, check the options on AMZN today. Check those 235s. Now that's how you make money for the bonus pool as a parasite attached to the jugular of the American non market capital markets.

The DJIA surged approximately 720 points from its intraday lows of 10,789.87 on Monday, September 12. That is a substantial move in 4+ trading session... especially when you consider had bad much of the macroeconomic data has been this week.

What is going on? This must be something more than short covering. Maybe The Great Chairsatan really is going to blow us away with the latest tool from his toolbox. Maybe the Fed will start buying up all distressed mortgages and/or some other form of LSAP.

your attempt to make sense of the senseless is admirable...but I think this is simply a MIRACLE!!! Since March 2009, a modern day miracle is taking place!!! Jesus turned the water to wine and now modern day saint Ben has turned shit into shin-ola. Don't question what the lord has given but simply praise his newest apostle.

2% interest rates are not compelling for savers. That money is going elsewhere. Some blue chip stocks are paying 6% dividends. A 2% 10-year is about as far from a buy as I can think of. Look at the chart of yields this year.

Quite the little rally into the close and into the AH. Who didn't see that coming. Let me get this straight then...buy at 3:35p and sell at 4:20p. By the way...really do like the chart porn. Looks like Wile E Coyote heading over the cliff.

Credit's a drag, credit's the designated driver of the global casino, always worrying, always complaining that it's time to go home. Equities are where its at - the 'spike the punch, smash the guitars, drink straight from the bottle, puke in the flowerbed' partiers who, even when they get their asses kicked by the bikers at the after-hours club they decide to stumble into on the way home, always shake it off and are ready to go the next day. Fuck credit, hang with the equities, they may be stupid, but you get better stories with them.

it seems credit professionals are not so comfortable being long and unhedged into the weekend.

Hell, would you be? I don't even leave more money in my checking account than to cover bills over the weekend. I don't like to leave anything subject to counterpary risk, including the US $, into the weekends anymore. : )

Promises of bailouts, faulty accounting and corrupt government are the only thing that fills the gap. Volume proves all these prices are lies all over again and one week this market will lose 2000 points BEFORE the margin calls. Stay short and be happy because the markets are reliant upon a daily not even weekly tax payer subsidization just to pretend their are solvent along with austerity. Eventually a nation will leave the Euro or a black pterodactyl politically will end this charade. All you need to know is that HFTs have marked up all stocks on no volume 400% more than they are worth and sleep well.